Federal Funding for Large Businesses: Minister Toews

President of Treasury Board and Minister of Finance Travis Toews issued the following statement on federal government funding for business:

(March 11, 2020) “The Government of Alberta appreciates today’s announcement from the federal government, which responds to our repeated advocacy over the last two months to ensure a future for Canada’s largest employers during this time of extraordinary adversity.

“Over the past 10 years, Alberta has contributed almost $200 billion to the country in net fiscal transfers. A significant amount of this wealth was contributed by large employers in our province. That’s why it was important the federal government step up and provide bridge financing as required to challenged, but otherwise viable, businesses in the province.

“In particular, we thank Deputy Prime Minister Chrystia Freeland and Finance Minister Bill Morneau for their work on this critically important file.

“Today’s news, in combination with earlier measures for small and medium-sized companies, represents an expression of confidence in industries that have been gravely damaged by the COVID-19 pandemic and its related economic consequences.

“Alberta employers have long factored in environmental considerations to their business planning and reporting. We will closely watch to ensure that Ottawa’s conditions do not unnecessarily impair accessibility, future growth and prosperity.

“We will continue to work with our largest employers and the Government of Canada to ensure that these programs are accessible, timely, and efficient in these difficult times.”

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